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commission

176 views 5 replies

Prem kumar

accountant

40 Points Joined October 2016

I have book the commission as a expenses in 31 march 18. but payment not yet paid. I don't pay the tds this expenses allowed or not. if I will pay tds then its allowed????

Replies (5)

Mohit Agarwal

24 Points Joined April 2018

Liability u/s 194h to be checked. If it crosses the limit TDS to be deducted otherwise 30% of the exp will be disallowed

CA Rashmi Gandhi

Chartered Accountant

86505 Points Joined April 2011

Firstly TDS is required to be deducted only if amount of commission is more than Rs.15000/- & you are required to get your accounts audited u/s 44AB.

Secondly if you would not deduct TDs then 30% of expenses disallowed.

sir am ask I must pay tds but my doubt is I have book the commission expenses was 100000 for the fy 17 18. but payment will be made by 15th April 2018 fy 18-19. now tds was payable for fy 17-18 or fy 18-19. and this expenses allowed for fy 17-18?????

Miss Mansi Bhojani

Practicing Chartered Accountant

1736 Points Joined August 2012

Yes correctly stated above and when you pay the tds you can get that 30% disallowed as allowed expenses in the financial year tds is deposited.

Prem kumar

accountant

40 Points Joined October 2016

thank you for yours reply sirs . that commission amount above 5lak. my query is I want to book the expenses in fy 17-18. but payment will be made on fy 18-19. now tds was payable for which year?